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Posted on 1/15/15 at 7:56 pm to When in Rome
Sin products? 
Posted on 1/15/15 at 7:56 pm to Saints72
quote:
My thoughts also, so for years you are making record profits...and a few months of low oil prices and now you cannot operate.
Uh, the purpose of a publicly traded company is to make money for the shareholders
Posted on 1/15/15 at 7:57 pm to LSU_postman
quote:
We need to lay so e peeps off in order to make the obscene profits we are accustomed to making. This is the easiest way to do it. FIFY
What makes them obscene?
Posted on 1/15/15 at 8:01 pm to euphemus
That doesn't tell the whole story
It is 8% of employees but the cuts were way deeper than that.
Certain segments cut almost 20% of their work force with layoffs and retirement packages. Plus the company cut the majority of the contractors, temps and temp to hires as well.
It is 8% of employees but the cuts were way deeper than that.
Certain segments cut almost 20% of their work force with layoffs and retirement packages. Plus the company cut the majority of the contractors, temps and temp to hires as well.
Posted on 1/15/15 at 8:01 pm to euphemus
quote:
Any chance this drives the economy into another recession?
thats what I am wondering. A lot of banks loaned money to drill wells and they are gonna get screwed. Not to mention all the banks that made the loans on the trucks, boats, and houses this board hates so much. I haven't known of banks to take a fricking and not pass it along. Plus all these jobs were making oil field money so the economies where these people lived will feel it.
Posted on 1/15/15 at 8:02 pm to LSU_postman
quote:
We need to lay so e peeps off in order to make the obscene profits we are accustomed to making. This is the easiest way to do it.
i don't think you get how international markets work
oil/gas has low margins but high volume. that's how they get "record profits". with the price of oil falling, they won't drill as much. what do you expect the companies to do with the employees they hired solely to drill oil?
Posted on 1/15/15 at 8:02 pm to euphemus
Oil bubble went pop
Posted on 1/15/15 at 8:03 pm to Rhino5
It'll be back in 18 months
Posted on 1/15/15 at 8:03 pm to 8thyearsenior
quote:
A lot of banks loaned money to drill wells and they are gonna get screwed. Not to mention all the banks that made the loans on the trucks, boats, and houses this board hates so much. I haven't known of banks to take a fricking and not pass it along. Plus all these jobs were making oil field money so the economies where these people lived will feel it.
south LA is in for a kick in the dick
but the rest of the country will have a nice short-term uptick. O/G basically supported the US economy during the recession so eventually the national economy will feel it, but it will have to trickle down
Posted on 1/15/15 at 8:06 pm to SlowFlowPro
It is supposed to be short-lived though. By the end of the year back in the 70's
Posted on 1/15/15 at 8:06 pm to Paige
lol I didn't even see that... 
Posted on 1/15/15 at 8:07 pm to Thib-a-doe Tiger
yeah i think LC is going to be insulated from a lot of the shite b/c our huge capital projects are still going
and we primarily refine petro. that's going to possibly increase with lower prices (b/c people buy a lot more gas when the price lowers)
and we primarily refine petro. that's going to possibly increase with lower prices (b/c people buy a lot more gas when the price lowers)
Posted on 1/15/15 at 8:09 pm to Thib-a-doe Tiger
No. Thousands of layoffs coming. I lived through the banking recession.
Posted on 1/15/15 at 8:11 pm to Rhino5
quote:
No. Thousands of layoffs coming. I lived through the banking recession.
I didn't say it wasn't coming, I said it won't last long
Posted on 1/15/15 at 8:11 pm to When in Rome
Why do I have to spend the hundreds/thousands i will save in fuel costs? Its my money, I don't have to explain to some oil worker what I do with my money.
Posted on 1/15/15 at 8:14 pm to euphemus
Know some people in the exotic ranching business. Oil companies have been spending huge amounts of money sending their people on hunts to shoot trophy animals for years. They were bitching because that business was dropping off. frick em.
Posted on 1/15/15 at 8:16 pm to MrLarson
I will possibly lose my job due to the oil bubble but it seems ridiculous to sit here and say that the nation won't benefit from having to pay less for energy.
I'm kind of scared of what the future holds, but more money will be spent elsewhere on other things that can possibly improve our quality of lives. We may have to move to industries or areas that are benefitting.
I'm kind of scared of what the future holds, but more money will be spent elsewhere on other things that can possibly improve our quality of lives. We may have to move to industries or areas that are benefitting.
This post was edited on 1/15/15 at 8:18 pm
Posted on 1/15/15 at 8:16 pm to INFIDEL
You sound mad.
Posted on 1/15/15 at 8:18 pm to euphemus
I work for a segment of SLB and only one person has been let go so far. People praising cheap gas are ignant
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